Journey from Inception to Success

It is extremely important for start-ups, entrepreneurs andeven business pros to keep track of their business expenses. These expenseswill reduce your taxes when it comes to file your personal tax returns (t1) orcorporate tax returns *T2). When taxseason starts the deductions will help and forms your strategic plans toperform tax planning, maximize tax deductions and minimize tax owing. So hereare some categories that already exist. All you have to do is take advantage ofany or all of the following expenses that apply to your business.

Startup costs

Startup costs are the initial costs that you have made. Which includes:

· Incorporation fees,

· Franchise fees and purchase of an existingbusiness or assets,

· Opening your business location,

· Market research and analysis,

· Business plans write ups,

· Marketing and advertising,

· Employee training,

· Professional fees, such as lawyers, accountants,

· Initial travel expenses

· Website development

· Assets roll-overs to the business

· Goodwill

· Home office expenses

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